非均衡劳动力市场的真实经济周期模型

真实经济周期(RBC)模型通常以市场出清的一般均衡为其理论框架。这使我们无法有效的将这一跨时期的动态优化模型应用于现实的经济环境,因为现实的世界里普遍存在着各种非均衡的状况。本文将劳动的供给和需求分离开来,从而允许非均衡的劳动力市场存在。利用美国的数据,我们对该模型进行了实证检验,结果表明该模型能够更好的解释劳动力市场的波动及消费和就业间的关系,同时说明该模型在数据的拟和上比标准RBC模型更好。

REAL BUSINESS CYCLES WITH LABOR MARKET DISEQUILIBRIUM

Real Business Cycles are often studied in the context of the general equilibrium framework. This restricts the effective application of intertemporal models to the real world where disequilibria seem to be a wide spread phenomenon. In this paper, we separate labor supply and labor demand and allow for different variants of labor market disequilibrium. Calibration for U.S. economy shows that such model variants will produce a higher volatility in employment and a more realistic correlation between consumptio...